Stream Oil & Gas and BA Capital Inc.

VANCOUVER, Feb. 16 /CNW/ - Stream Oil & Gas Ltd. (TSX-V: SKO) (the "Company") announces that BA Capital Inc., a private consulting company owned by Mr. Art Agolli, has commenced litigation against the Company, claiming damages of $637,000 arising from the allegedly wrongful termination of a Consulting Agreement with the Company. The Company disputes and will vigorously defend the claim as being entirely without merit.

About Stream Oil & Gas Ltd.

Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oil fields and a gas/condensate field in Albania. The Company's strategy is to use proven technology, incremental and enhanced oil recovery techniques to significantly increase production and reserves.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Stream Oil & Gas Ltd.

For further information: For further information: Dr. Sotirios Kapotas, President & Chief Executive Officer, P: (604) 642-6168; Danny Davis, Chief Financial Officer, P: (604) 642-6168, Email info@streamoilandgas.com, Website: www.streamoilandgas.com

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Stream Oil & Gas Ltd.

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